The market is a graveyard of failed products. Yesterday's wonders quickly turn dull. Most product people's answer to this is to build more, and at speed-and this is how they often fail.

The law of product development is that products grow obsolete quickly. If you stay complacent, someone else will come along and solve the problem better than you. The upshot of this is that there is always opportunity, even in a crowded space, to solve the problem better.

Thinking deeply doesn't mean moving slowly, it means moving deliberately. It means having a clear direction for your product, and knowing how to implement it. In today's crowded space, those who are able to build a habit of thinking deeply have a huge advantage.